This blog is a free service since the beginning. If this site has contributed to your trading/investing style in any way and you feel generous today, there are two donation buttons on the left side. Thanks for supporting this site by turning off your ad-block software and visiting the adverts.
Started at the beginning of your December posts and got up to the 10th.
I'd guess your technique is very old school. The type of TA done before computers.
Everyone starts off differently. You probably started off reading something...
I don't think anyone's technique is like mine. It's just learnt from observation. You know the motto: "the trend is your friend"? My favorite motto is: "The friend of the trend is momo" . My favorite quote is from Isaac Newton: "For every action, there is an equal and opposite reaction."
SPX 4 hour chart: support at 1825 is a good guess. Pretty sure that's a parallel line to the other 2 green lines.
I'd bet it breaks. ;)
Very interesting DOW weekly chart. ;)
RUT 4 hour chart: RUT Hourly macd says wave up over. Not going higher anytime soon.
It appears you don't try to count the waves in your 4 hour charts? Spx has a big 1 up(1737 to 1826), a choppy 3 up(1809-1867) and a short 5 up (1834-1883) to complete the wave from 1737.
Hi Rob, I started off with EW after a "recommendation" from a friend. I even posted on my experience here. http://www.tradingchannels.co.uk/2013/03/next-leg-down-c-wave-right.html Then I found out that channels are much more suitable for my character and strength because I'm the visual type. I do not count waves at all but I do check Fibonacci's very rarely. I try to keep it simple. To me less is more. Only channels and RSI suffice. The rest is noise. I'm bearish until the channels break up. Thanks for the comments by the way. B.
Oh, didn't know you started of with EW Bouraq. That's kinda like starting off playing with hand grenades.
I know EW is valid in the sense that it's cracking the code of how markets have been manipulated for over 100 years, but yes very difficult to apply and has nothing to offer on topping&bottoming theories.
Hello Mr B
ReplyDeleteStarted at the beginning of your December posts and got up to the 10th.
I'd guess your technique is very old school. The type of TA done before computers.
Everyone starts off differently. You probably started off reading something...
I don't think anyone's technique is like mine. It's just learnt from observation. You know the motto: "the trend is your friend"? My favorite motto is: "The friend of the trend is momo" .
My favorite quote is from Isaac Newton: "For every action, there is an equal and opposite reaction."
SPX 4 hour chart: support at 1825 is a good guess. Pretty sure that's a parallel line to the other 2 green lines.
I'd bet it breaks. ;)
Very interesting DOW weekly chart. ;)
RUT 4 hour chart: RUT Hourly macd says wave up over. Not going higher anytime soon.
It appears you don't try to count the waves in your 4 hour charts?
Spx has a big 1 up(1737 to 1826), a choppy 3 up(1809-1867) and a short 5 up (1834-1883) to complete the wave from 1737.
Hi Rob,
ReplyDeleteI started off with EW after a "recommendation" from a friend. I even posted on my experience here.
http://www.tradingchannels.co.uk/2013/03/next-leg-down-c-wave-right.html
Then I found out that channels are much more suitable for my character and strength because I'm the visual type.
I do not count waves at all but I do check Fibonacci's very rarely. I try to keep it simple. To me less is more. Only channels and RSI suffice. The rest is noise.
I'm bearish until the channels break up.
Thanks for the comments by the way.
B.
Oh, didn't know you started of with EW Bouraq. That's kinda like starting off playing with hand grenades.
ReplyDeleteI know EW is valid in the sense that it's cracking the code of how markets have been manipulated for over 100 years, but yes very difficult to apply and has nothing to offer on topping&bottoming theories.